Annual General Meeting Presentation
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This document provides an overview of Gran Colombia Gold's annual general meeting. It summarizes the company's accomplishments in 2017, including meeting production guidance and generating excess cash flow. It also provides an update on priorities and progress for 2018, including improving the capital structure, continuing optimized operations at Segovia, and technical studies and drilling at Marmato. Key metrics shown include increasing gold production and declining costs. The simplified capital structure is presented, reflecting a reduction in potential shares from debt refinancing in 2018.
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Annual General Meeting Presentation
- 2. 2 TSX: GCM June 2018 Forward‐Looking Statements DISCLAIMER This presentation contains "forward‐looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects, and, specifically, statements concerning anticipated growth in annual gold production, reduction of cash costs and AISC, future G&A, capex and excess cash flow, interest payments on the senior debt and future purchases and/or redemptions of the senior debt. Often, but not always, forward‐looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward‐looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Gran Colombia to be materially different from any future results, performance or achievements expressed or implied by the forward‐looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward‐looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated as of March 27, 2018 which is available for view on SEDAR at www.sedar.com. Forward‐ looking statements contained herein are made as of the date of this presentation and Gran Colombia disclaims, other than as required by law, any obligation to update any forward‐looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward‐looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward‐looking statements.
- 3. 3 TSX: GCM June 2018 2017 ACCOMPLISHMENTS Priorities Improved capital structure with share consolidation, debt extension and debt reductions Met guidance with $16 million of Excess Cash Flow Continued implementation of optimized mine plan at Segovia Completed 17,500m drilling program at Segovia Reported first mineral reserve of 660,000 ozs for Segovia and increased total resources to 2.3 Mozs Reported 8.1 Mozs underground resource at the Marmato Project 2017 Targets Guidance Actual Gold production (ozs) 150,000 – 160,000 173,821 Cash cost/oz sold < $720 $720 AISC/oz sold < $900 $918 Solid Performance
- 4. 4 TSX: GCM June 2018 2018 Update On Track 2018 Priorities Progress Improve capital structure: Settle 2018 Debentures and refinance 2020/2024 Debentures • Completed $98M gold‐linked notes financing on April 30th and redeemed 2020/2024 Debentures on May 14th • Settled $7.3M of 2018’s on April 30th with shares/cash • Expect remaining ~$34M of 2018 Debentures to be settled 100% with shares between now and maturity in August Continue implementation of optimized mine plan at Segovia, including development and mechanization at Sandra K and environmental initiatives (including tailings storage expansion and filter press) • On track with programs • El Chocho TSF nearing readiness to receive material • Filter press under construction in Peru and commissioning planned for 2019 20,000m drilling program at Segovia • To date, total of 64 holes and ~7,000m completed • 4 drill rigs in operation with 3 rigs carrying out resource definition in Providencia and El Silencio and 1 rig at Sandra K targeting peripheral extensions to the known vein system Technical studies (PEA) and up to 10,000m drilling program at Marmato • Drilling program starting in June with 2 rigs drilling from Level 20 • Primary work on the technical studies by JDS will commence later in the year
- 8. 8 TSX: GCM June 2018 CAPITAL STRUCTURE Simplified TSX Symbol Exercise Price Issued & Outstanding 2018‐06‐12 Fully Diluted Shares Common shares GCM 30.6M 30.6M 2018 Debentures GCM.DB.U US$1.95 $34.1M 17.5M Gold‐Linked Notes Unlisted $98.0M Warrants Unlisted CA$2.21 12.2M 12.2M Stock Options CA$2.55 1.8M 1.8M 62.0M The debt re‐financing in 2018 has significantly reduced our potential fully diluted common shares from 95M to 62M and added $13 million of cash to our balance sheet.